U.K e-commerce spending increases 10% in February

By Thad RueterSenior Editor

The growth rate for web-only retailers was 13%.

Online shoppers in the United Kingdom spent 5.4 billion pounds (US$8.56 billion) in February, up 10% from the same month last year, according to according to e-commerce spending estimates released today by the Interactive Media in Retail Group, an e-retail trade group commonly known at IMRG, and Capgemini, a consultancy.

In February 2011, however, year-over-year spending growth was 20%, the groups say, and last month’s 10% growth marks the slowest growth rate since January 2011. “Although growth in e-retail sales was lower than expected in February ... double-digit growth is still a positive result,” says Tina Spooner, chief information officer at IMRG.

In February, web-only retailers posted year-on-year growth of 13%, more than the 8% growth for retailers with both online and physical stores, the report says. February was the second consecutive month that web-only retailers outpaced those multichannel retailers.